Diwakar Gupta will be appointed as one of the managing
directors of State Bank of India, though there is no clarity on whom the other
two MDs would be. Sources told that the department has cleared his appointment
and a formal notification is pending with the finance ministry.
Gupta is currently a deputy managing director and group
executive, national banking. Two other deputy managing directors- Hemant Contractor,
who is the CFO, and Pratip Chaudhuri who is in-charge of international
banking-were also recommended for the posts of MD.
The two are also in the reckoning for the post of chairman
since O P Bhatt is due to retiring at the end of the month. Gupta recently was
heading SBI Cards, SBI's credit card joint venture with GE Caps.
He will now join R Sridharan as the second MD. While the
bank has traditionally had two managing directors, a recent amendment to the
law has made it possible for the government to appoint two more MDs. The second
MD's position has been lying vacant for nearly six months since the retirement
of S K Bhattacharya.